Cantor Fitzgerald L. P. Has $1.61 Million Position in AST SpaceMobile, Inc. $ASTS

Cantor Fitzgerald L. P. boosted its stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 138.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,882 shares of the company’s stock after acquiring an additional 19,065 shares during the period. Cantor Fitzgerald L. P.’s holdings in AST SpaceMobile were worth $1,614,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. ORG Partners LLC lifted its position in shares of AST SpaceMobile by 5.2% during the 3rd quarter. ORG Partners LLC now owns 3,150 shares of the company’s stock valued at $155,000 after acquiring an additional 155 shares during the period. Atlantic Union Bankshares Corp increased its position in shares of AST SpaceMobile by 30.0% in the third quarter. Atlantic Union Bankshares Corp now owns 781 shares of the company’s stock worth $38,000 after purchasing an additional 180 shares during the period. GAMMA Investing LLC raised its stake in AST SpaceMobile by 21.9% in the third quarter. GAMMA Investing LLC now owns 1,355 shares of the company’s stock valued at $67,000 after purchasing an additional 243 shares in the last quarter. Ameriprise Financial Inc. raised its stake in AST SpaceMobile by 3.9% in the third quarter. Ameriprise Financial Inc. now owns 6,586 shares of the company’s stock valued at $323,000 after purchasing an additional 245 shares in the last quarter. Finally, Walkner Condon Financial Advisors LLC lifted its position in AST SpaceMobile by 3.7% during the third quarter. Walkner Condon Financial Advisors LLC now owns 10,403 shares of the company’s stock worth $511,000 after purchasing an additional 367 shares during the period. 60.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Keith R. Larson acquired 715 shares of the stock in a transaction dated Wednesday, December 17th. The stock was bought at an average price of $70.02 per share, with a total value of $50,064.30. Following the completion of the purchase, the director directly owned 1,390 shares of the company’s stock, valued at $97,327.80. This represents a 105.93% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 30.90% of the stock is owned by corporate insiders.

AST SpaceMobile Trading Down 0.9%

Shares of ASTS stock opened at $86.34 on Friday. The firm has a market capitalization of $31.69 billion, a P/E ratio of -65.41 and a beta of 2.77. AST SpaceMobile, Inc. has a twelve month low of $18.22 and a twelve month high of $129.89. The company has a quick ratio of 16.27, a current ratio of 16.35 and a debt-to-equity ratio of 0.92. The stock’s fifty day simple moving average is $96.35 and its 200 day simple moving average is $75.54.

AST SpaceMobile (NASDAQ:ASTS) last posted its earnings results on Monday, March 2nd. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.08). AST SpaceMobile had a negative net margin of 482.16% and a negative return on equity of 23.02%. The firm had revenue of $54.31 million during the quarter, compared to the consensus estimate of $39.53 million. The company’s revenue was up 2731.3% compared to the same quarter last year. As a group, sell-side analysts predict that AST SpaceMobile, Inc. will post -0.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ASTS shares. B. Riley Financial reduced their price objective on shares of AST SpaceMobile from $105.00 to $95.00 and set a “neutral” rating on the stock in a research note on Friday, February 13th. UBS Group boosted their target price on shares of AST SpaceMobile from $43.00 to $85.00 and gave the company a “neutral” rating in a research report on Wednesday, March 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AST SpaceMobile in a report on Monday, December 29th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of AST SpaceMobile in a research note on Tuesday, January 20th. Finally, Zacks Research upgraded shares of AST SpaceMobile from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $63.77.

About AST SpaceMobile

AST SpaceMobile is a U.S.-based aerospace company developing a space-based cellular broadband network designed to connect standard mobile phones and other devices directly to satellites. The company’s core proposition is “space-to-cell” service: operating a constellation of low-Earth-orbit (LEO) satellites equipped with large, high-power phased-array antennas to provide wide-area mobile broadband without requiring users to buy specialized terminals or handset modifications.

AST SpaceMobile designs, builds and operates satellite payloads and supporting ground infrastructure.